Insurers flock to catastrophe-hit US property market amid rising risks

Quick Summary:

Recent large US hurricanes Helene and Milton have added to concern about property losses.

Rising losses from storms, hurricanes and wildfires in recent years have caused some insurers, such as Allstate and State Farm, to cut back cover in catastrophe-hit states like Florida and California.

According to a report this month from Swiss Re, 2024 will be the fifth consecutive year that global insured losses from natural catastrophes exceed $100 billion.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: IndiaUnited States

Topics: Hiscox California Natural disasters US home insurance Global insured losses Catastrophe insurance Property losses US property insurance Storm and wildfire insurance Munich Re Insurance market competition Florida insurance Lloyd's of London US insurance market 2024 Rising premiums

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 18:24:21 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 801 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24434312

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 321 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions